Wealth Effects LLC Has $361,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Cerbat Gem

Wealth Effects LLC lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 7.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,055 shares of the network technology company’s stock after acquiring an additional 70 shares during the period. Wealth Effects LLC’s holdings in Palo Alto Networks were worth $361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Sound Income Strategies LLC boosted its holdings in shares of Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares during the period. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the first quarter valued at about $25,000. First PREMIER Bank grew its position in shares of Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 31 shares during the last quarter. Financial Synergies Wealth Advisors Inc. increased its stake in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in shares of Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PANW shares. BMO Capital Markets upped their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada lifted their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.79.

Check Out Our Latest Stock Analysis on Palo Alto Networks

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock valued at $118,643,279 over the last three months. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded up $1.56 during mid-day trading on Monday, hitting $376.39. The company had a trading volume of 1,003,314 shares, compared to its average volume of 4,021,075. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00. The firm has a market cap of $121.88 billion, a P/E ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. The business’s fifty day moving average is $348.67 and its two-hundred day moving average is $323.39.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last announced its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the business posted $0.80 EPS. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Palo Alto Networks Profile

(Free Report)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.

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